Companys shares slumped after reports it could be added to the u. S. Blacklist. Discord rains. Oil retreats as opec fails before todays meeting. The uae and pakistan are said to be opposed to the current cuts. 6 00 a. M. In london. It has just gone 10 00 a. M. In the dad. Rally . Uld stop the maybe if yields bust above 1 , but that looks highly unlikely in a world of quasiyield controls. Good to have you back in hq. Annmarie good morning, manus. Glad to be back in london hq. One of the things the market seemingly continues to forget about, but this weekend we heard from all the top experts in the united states. Dr. Deborah birx saying postthanksgiving we are already seeing the disease likely. S 10 times more awake is w keeps her awake is what could happen after memorial day. Aboutey are dealing with 100,000 infections a day. Manus go to the front of bloomberg. Com. We have the headlines coming up across the bloomberg terminal at the moment. Take a look at bloomberg. Com because at the
Merkel is said to have warned germany could exceed 19,000 cases in a day. Trump and Joe Biden Square off in the first president ial debate tonight. Bloomberg television and radio will have special coverage and analysis on the headtohead. 6 00 a. M. In london, 7 00 a. M. In frankfurt and 9 00 a. M. In the difc. Differencell it make to markets who wins technically . Tell you what is questionable, who is the greatest of them all . Slightly schizophrenic in the equity market but do you want to walk naked for the next 30 days into an election and be short the dollar . We will take a look at the dollar. Kitties is the carry trade getting unpacked. The short dollar by the e. M. Buy the em. This is the biggest losing trade out there. Bmp into the election, high vol, there will be a better opportunity. The fx carry trade is down nearly 3 this quarter, adding to the dollar. Do you walk naked into the woods into a u. S. Election with no dollars around your neck . Lets talk about the markets, the
Autonomy is said to have featured prominently. Coronavirus cases reach a record fueled by latin america. Infections in florida hit a record high while Texas Governor said contagion is accelerating at an acceptable rate. 9 00 6 00 a. M. In london, in dubai. What a morning. How to lose friends and alienate a president. Would Peter Navarro be the man that would kill the china trade deal . That is the question posed to the markets. Our next guest said a trillion dollar roundtrip. Words matter. Good morning. You never want words to be taken out of context, do you . It certainly did radel overnight. Overnight. It does really just highlight even though we have seen a powerful rally from the march lows, how sensitive these markets are to any sign of risk out there. This takes us back to david blooms comments. Risk on, risk off. Aussie, kiwi, you see the disintegration of risk off, straight back onto the fuel. How are the markets . On the screen in asia, which is interesting, because we have ke
Wirecard withdraws results, assets missing 1. 9 billion worth of cash. Quality doesnt exist. The group says it is in discussions with lending banks. That has got to be the most stunning headline i have probably ever read. I dont know. Ill have to refresh my memory. Weve got a debate. Jpmorgan says get more selective. Howard marks has done the anatomy of a rally and i think we have gone from flawless to hopeless and back again in record time. The question howard asks is, are we being passionate enough about weighing the risk . Good morning. Nejra good morning, manus. We have been looking through what jpmorgan has been saying, investors getting more selective in the second half and i found the comments from jpmorgan interesting, especially when we look ahead to the potential for yield curve control, there are some asking questions whether it will be a buy everything rally but jpmorgan dont think it will be, do they . Manus they dont. James athay saying fill your boots with everything. Jp
Concern spreads from italy to iran, but the World Health Organization says the outbreak is not yet considered a pandemic. The business case. Mastercard and United Airlines, the latest companies to issue profit warnings amid the operate. And, sticking to the script. Cleveland fed president Loretta Mester says the virus is a threat to the u. S. Economy, but does not justify a change in rates. Just under one hour away from the start of cash equity trading across europe and in the u. K. Lets take a look at futures after the big drop yesterday. We saw in some cases the biggest slide in european stocks since the brexit vote. As a result, we see a bounce in futures today. Maybe investors saying it is time to buy in the dip. You can see that dax futures are up 8 10 of 1 . U. S. Futures are also showing gains today after the biggest drop in two years on the s p and dow. You can see we swap over to u. S. Futures, they will be showing green arrows as well. Lets take a look at whats going on in te